Podcast

The Million Dollar Question… When Is The Best Time To Build Or Buy?

Is there a perfect time to buy? Now, this is a tough question to answer, and it’s not really as straightforward as what you think it is.

I’ve had clients say they are holding out for interest rates to drop, or waiting for the market to change, but it’s not as simple as this. But fear not—I’ve got some valuable insights to share.

No Crystal Ball? No Problem

Contrary to popular belief, there’s no magic crystal ball to predict the market’s every move.

What truly matters is your time in the market. The true value lies in the time you spend within the market, moving towards your dream of homeownership. Property is not a sprint, it’s a marathon and you need to be in it for the long-term game.

Real-Life Success Story

Let me share a recent success story to illustrate the power of time in the market. A client of mine picked up her keys in December 2022 after initiating the process in mid-2021. Opting for a $380,000 house and land package in Byford with Keystart, she made her dream a reality. Keystart, despite a slightly higher interest rate, served its purpose—getting her onto the property ladder with a low deposit.

Fast forward to December, and her property was valued at $455,000. This was before landscaping and other additions. Her home’s value experienced significant growth and she was able to get off Keystart and refinance to a lower interest rate loan with the bank. This proves the point that time in the market matters. Waiting to time the market might mean missing out on these valuable opportunities.

Is It the Right Time for You?

What’s the key takeaway you need to focus on? It’s all about assessing whether you can afford it and if it’s the right time for you. If you have the savings, the income, and you’re eligible to buy, then it is the right time for you. Don’t get caught up in trying to time the market, instead, focus on your financial readiness.

Waiting to save more money or anticipating market changes might lead to getting outpriced, as the real estate market can evolve rapidly. Even with additional savings, changes in interest rates can decrease borrowing capacity, and affect the budget for a house and land package.

So the real answer to “Is it the right time to buy”, is can you afford it

Need a Finance Check?

If you’re feeling uncertain about where you stand financially, you can DM me on Instagram and I can offer you a free finance health check through a trusted mortgage broker. Together, we can work out a plan—whether you’re ready now or need a roadmap for the next few months.

The Answer? The Best Time is When You Can Afford It

The best time to build or buy is when you can afford it. Your journey is unique, and I’m here to support you every step of the way. Remember, you’ve got this, and I’ve got your back.If you are looking to get started with your home journey, you can book a call with our team to go over your options. Make 2024 the year you get started towards achieving your dream home!